Global-Player.com was launched in 1999 and is licensed in the Caribbean island of Antigua. The company originally used its own software but then switched to Boss Media earlier this year for its online casino and poker operations.
Afters eight years in online casino operation, the online gaming firm, Universal Gaming Concepts Inc. has announced the closure of its online casino, Global-Player.com. The online gaming company decided to close its doors after evaluating economic issues in the business.
Chief Executive Officer for Universal Gaming Concepts, Giancarlo Bettini, said, “The current changes in the legal and economic landscape of the gaming industry has made it increasingly difficult for us to compete and retain our market share.”
“The strategic decision to cease operations while we are still in the position to satisfy our obligations to players, vendors, affiliates and staff reinforces our integrity and commitment to good business practices,” Bettini added.
Current customers of Global-Player.com can cash out their account balances immediately, and requests will continue to be processed until December 30, 2007.
A statement on the website says, “Your account balance is available for immediate payout and you are encouraged to process your payout immediately to avoid delay.”
The statement continues, “If you have not requested your funds prior to our closing date, you must contact Support@Global-Player.com to have your payout requests processed manually.”
Amendment introduce in Finland to enable internet gamblers to claim back losses in gambling
Finnish Ministry of Social Affairs and Health plans to introduce an amendment to Online Casino Singapore laws to enable Internet gamblers to claim back their losses by being paid by either the firm providing the online poker services, a credit card company, or the winning player in the game.
The Ministry feels that if such a law were enacted, foreign operators of Internet poker sites would likely prevent Finnish players from taking part in the game, effectively banning Finnish players, since a player protected by such a law would be too great a risk to the game organizer.
The Ministry commissioned the University to look into ways of protecting gambling addicts and children from the dangers of online gambling.
The idea of a payback scheme was conceived by the Ministry of Social Affairs and Health civil servants together with the compiler of the report, the University of Joensuu professor of Law and Economics Kalle Maatta. According to Maatta, such a law does not yet exist anywhere in the world.
The idea of the law is not to force citizens to stop gambling online, but merely to provide them with the opportunity to claim back their losses that they incurred while, for example, they played online poker when drunk.